Sep 16 2010
Solvay Advanced Polymers, LLC announced today that it will suspend production at its facility here that makes the plastic, PrimoSpire® SRP (self-reinforced polyphenylene), in order to refocus its people and assets on research and development to fully commercialize the product.
The move will eliminate 14 positions at the site while retaining five R&D positions and transferring another five employees to other facilities and sites within the company.
“We see great opportunity for PrimoSpire SRP in a multitude of industries and applications and are committed to funding its development,” explained Chris Wilson, Senior Vice President for Ultra Polymers, Solvay Advanced Polymers. “This strategic business decision will focus assets and personnel on refining and improving the process technologies necessary to realize PrimoSpire’s full commercial potential. We regret the impact this move will have on affected employees and the community.”
Solvay Advanced Polymers will offer severance packages and comprehensive outplacement services to affected employees. In addition, the company will continue talks with some affected employees about other opportunities within the company.
PrimoSpire SRP is one of the stiffest and strongest unreinforced plastics in the world and is unique in its ability to deliver extremely high compressive strength and heat resistance without reinforcement. Solvay Advanced Polymers currently has ample inventory on hand to serve existing customers and seed any development opportunities with prospective customers.
Source: http://www.solvayadvancedpolymers.com/